The Greedy Trader Weekly Analysis
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Weekly Price vs. Fibonacci:Near 38.2% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 5/10/2024 -
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Apple Computer (AAPL) Technical Analysis

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Summary:
Weekly :Broken trend support lineStochastic signal line moved above oversold area
Daily :Williams' Percentage Range is strongly overbought20 Day Moving Average has crossed above the 50 Day Moving AverageBearish Dark Cloud Cover CandlestickPrice is near the Fibonacci 23.6% retracement level
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It was the negative week for the Apple Computer (AAPL). During the week, the AAPL gave back -0.33 points, or -0.18%, and closed at 183.05 on Friday, May 10, 2024. AAPL was trading at average weekly trading volume.

Long-term trend: [See AAPL long-term trend chart]
A long-term uptrend had started on January 3, 2023 at 124.17 and reached 199.62 on December 14, 2023. AAPL gained -75.45 points, or -60.76%, in 49 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (193.00) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See AAPL medium-term trend chart]
A medium-term downtrend had started on December 14, 2023 at 199.62 and reached 164.08 on April 19, 2024. AAPL lost 35.54 points, or 17.80%, in 18 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 160.73 and resistance is at 187.03. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See AAPL weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since January 26, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See AAPL short-term trend chart]
A short-term uptrend had started on May 1, 2024 at 169.11 and reached 187.00 on May 3, 2024. AAPL gained -17.89 points, or -10.58%, in 2 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See AAPL daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since April 24, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See AAPL candlestick chart pattern]
On Friday the chart has formed a Bearish Dark Cloud Cover Candlestick pattern. Bearish Dark Cloud Cover pattern is a trend reversal indicator which signifies the end of an uptrend and the start of a downtrend. The reliability of the Bearish Dark Cloud Cover pattern is considered a highly reliable pattern of market reversalUse the Technical Stock Screener to see the list of stocks that had a Bearish Dark Cloud Cover Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.94
Williams' Percentage Range (W%R) 9.10
Strong Overbought
Lane's Stochastic (%D-Slow) 78.14
Greed/Fear Indicator (GFI) 81.67
Overbought
Moving Average Converg./Diverg. (MACD) 1.42
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.80
Williams' Percentage Range (W%R) 38.00
Lane's Stochastic (%D-Slow) 35.14
Greed/Fear Indicator (GFI) 48.90
Moving Average Converg./Diverg. (MACD) -1.80
Trading Signals
Description Value Chart
Yearly Trendline Resistance 200.97
Yearly Trendline Support 193.00
Upper Bollinger Band 189.18
Quarterly Trendline Resistance 187.03
Daily Stochastic Crossing 183.25
Price 183.05
20 Day Moving Average 173.35
Weekly Stochastic Crossing 173.18
50 Day Moving Average 172.51
Parabolic System 171.24
Lower Bollinger Band 162.56
Quarterly Trendline Support 160.73
Sector and Industry
Description Name Rank
Sector Information Technology 4
Industry Technology Hardware, Storage & Peripherals 55
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 169.11
Low Date 05/01/2024
High 187.00
High Date 05/03/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 169.11
Low Date 05/01/2024
High 187.00
High Date 05/03/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 164.08
Low Date 04/19/2024
High 187.00
High Date 05/03/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 187.03
Support 160.73
High 199.62
High Date 12/14/2023
Low 164.08
Low Date 04/19/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Support
Resistance 200.97
Support 193.00
Low 124.17
Low Date 01/03/2023
High 199.62
High Date 12/14/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.